Complaints have been made that there is not a clear and complete record of the number of companies benefiting from special tax regimes.
It is estimated that there are approximately 3,000 taxpayers who fall under the tax exemptions regime, either totally or partially. However, this data has not been confirmed by the Superintendency of Tax Administration, even though it had to submit its first report in 2014, according to the rule which came into effect in November 2013.
The Central American Institute for Fiscal Studies has highlighted the unsustainability of the fiscal deficit in Costa Rica, El Salvador, Guatemala and Honduras.
Pensalibre.com reports that "... according to the results of a report by the Central Institute for Fiscal Studies (Icefi) submitted yesterday ... Guatemala, El Salvador, Honduras and Costa Rica find themselves with in unsustainable scenarios regarding public debt in the next few years. "
The cause is a contraction in consumption in major markets for Guatemalan exports, mainly sugar, coffee and rubber.
This is mainly due to international market stagnation and decline in prices of commodities such as sugar and coffee. "Among these markets is the U.S., the country's main trading partner. According to statistics from the Bank of Guatemala, during the first three months of the year $1.016 billion was exported to this country, showing a decrease of 2.4% compared to the $1.041 billion recorded last year, ie a loss of $24.5 million," noted an article in Elperiodico.gt.
The Government of Guatemala is studying the direct purchase of 500,000 passport booklets after the dismissal of a second tender process which sought to acquire the booklets.
Taking part in the contest were two bidders, which contravenes the Government Procurement Act, since the process was conducted in the form of "expression of interest", which is supposed to have only one participant.
The suits citing unconstitutionality presented in Guatemala against the tax reform have caused irrecoverable losses to government coffers.
The head of Collection at tax authority SAT said that " the reform does not only include income tax (ISR)" and noted that the Constitutional Court (CC), among other resolutions, suspended the collection of a 5% tax on the first registration of tractors (Iprima).
The government wants to make progress in meeting OECD requirements in order to bring the country out of the list of "gray" countries regarding tax information exchange.
An article in Prensalibre.com reports that Pavel Centeno, finance minister, said that "Guatemala has not advanced in the work to meet all the demands of the Organization for Economic Cooperation and Development (OECD), since one of the points pending is the opening of bank secrecy for tax issues, it risks staying on the gray list of non transparent countries. "
Paulo de Leon, CABI; Carlos Martinez, UNDP consultant; Carlos Gonzalez, ASIES and Ricardo Barrientos, Finance Minister will be the speakers at the meeting to be held on Thursday, November 13 at the FLACSO campus in Guatemala at 6 pm.
Caribbean-Central American Action (CCAA) is a private, independent organization that promotes private sector-led economic development in the Caribbean Basin and throughout the Hemisphere.
Operates in Panama, Nicaragua, Honduras, Guatemala, El Salvador, Costa Rica and Caribbean Community
Phone: (202) 331-9467
We are a private nonprofit dedicated to improving the quality of life of rural families through increased economic returns for producers and their families to improve the competitiveness of producers.
Operates in Honduras and Guatemala
Phone: (501) 2368 3130 - (501) 2368 3466
VGSC Investment & Legal Services is legal services, whom have vast experience in different legal fields. We are focuses primarily on asset protection, financial, economic, corporate,& foundations
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